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Minda Finance informs about outcome of board meeting

09 Dec 2015 Evaluate

Minda Finance has informed that the Board of Directors of the Company at its meeting held on December 09, 2015, to decide/ take decision about proposed issuance of 125000, 3% Non-Cumulative Redeemable Preference Shares of Rs 400 each on a private placement basis, as approved earlier by the Board of Directors in their meeting held on November 06, 2015. The Board was appraised that Company had given the offer letter to Ziwani Barter on the basis of their interest, however, the said investor has later on expressed its unwillingness to invest in the Company in the said Non-Cumulative Redeemable Preference Shares. Further, the Company has decided in their meeting dated December 09, 2015 to cancel the proposal of issue of preference shares.

The above information is a part of company’s filings submitted to BSE.

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